Finance Committee - October 7, 2008

PDF version of Agenda

AGENDA

FINANCE COMMITTEE

Meeting Notice

Date:                     9:30 a.m., Tuesday, October 7, 2008
Location:                    Room 263, City Hall
Commissioners:       Alioto-Pier (Chair), Mirkarimi (Vice Chair), Ammiano, Chu, Sandoval and McGoldrick (Ex Officio)
Clerk:                          Erika Cheng

 

 

1.                   Roll Call

2.                  Approval of Minutes of the September 9, 2008 Meeting - ACTION* (attachment)

3.                  Recommend Adoption of a Position of Support for Proposition 1A - High-Speed Rail Bond on the Statewide Ballot in November 2008 - ACTION* (attachment)

                Proposition 1A, the $9.95 billion Safe, Reliable, High-Speed Passenger Train Bond Act, has been submitted to the voters of California for approval on November 4, 2008. This legislative bond act was revised through approval of AB 3034 (Galgiani and Ma) in the current Legislative Session.  AB 3034, a bill for which the Authority adopted a position of support, updated and expanded upon the provisions of the High-Speed Passenger Train Bond Act enacted in the original 2002 legislation, and established additional fiscal controls on the expenditure of state bond funds to ensure that they are directed to construction activities in the most cost-effective and efficient manner. Approval of the bond act is intended to provide state funding to initiate the construction of the 800-mile, high-speed passenger train system. Of the $9.95 billon in general obligation bonds that would be authorized by the bond act, $9 billion would be used in conjunction with federal and private funds for the planning and construction of the system. The remaining $950 million would be available for capital projects on other passenger rail lines in California to provide connectivity to the high-speed train system, and for capacity enhancements and safety improvements to those lines.   Of direct relevance to San Francisco, an estimated $40.8 million in bond revenues for connectivity projects could be available for the Caltrain electrification project.  In addition, the Municipal Transportation Agency and BART are expected to receive about $65.7 million and $259.9 million respectively.  Proposition 1A also specifies that Phase 1 of the system consists of the segment between San Francisco and Los Angeles, and formally designates the Transbay Transit Center as the San Francisco terminus of the segment, a designation that we have long supported.  The new Transbay Transit Center is being designed the accommodate HSR, as will the Caltrain Downtown Extension phase of the project.  The Transbay Joint Powers Authority, charged with delivering the Transbay Transit Center expects that the project could receive $500-$700 million in bond funds.  Supporting Proposition 1A would be complementary to existing Authority positions for another statewide bond measure, the State Transportation Infrastructure Bond Act (Prop 1B), which identifies both the electrification and Transbay Transit Center projects as priorities for various discretionary programs to be funded by Prop 1B. We are seeking a recommendation to adopt a position of support for Proposition 1A- Safe, Reliable High-Speed Passenger Train Bond Act on the statewide ballot in November 2008.

4.                  State and Federal Legislative Update - ACTION* (attachment)

5.                  Introduction of New Items - INFORMATION

6.                  Public Comment

Adjournment

 

 

 

Please Note: that the meeting proceedings can be viewed live at http://www.sfgov.org/sfgtv or that evening at 6:00 pm on Cable Channel 26 in San Francisco, with a repeat on the weekend (either Saturday or Sunday evening). To know the exact cablecast times for weekend viewing, please call SFGTV at (415) 557-4293 on Friday when the cablecast times have been determined.

In order to assist the City's efforts to accommodate persons with severe allergies, environmental illnesses, multiple chemical sensitivity or related disabilities, attendees at all public meetings are reminded that other attendees may be sensitive to various chemical based products. Please help the City accommodate these individuals.

To obtain a disability-related modification or accommodation, including auxiliary aids or services, to participate in the meeting, please contact Erika Cheng at 415.522.4800 at least two business days before the meeting.

If any materials related to an item on this agenda have been distributed to the Finance Committee after distribution of the agenda packet, those materials are available for public inspection at the San Francisco County Transportation Authority at 1455 Market St., 22nd Floor, San Francisco, CA 94103, during normal office hours. 

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